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Company G received $2,000 from a customer as an advance payment for services to be...

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Question

Accounting

Company G received $2,000 from a customer as an advance payment for services to be provided in the future. How does this transaction affect the company's balance sheet?
Options:
A) Increase in Cash and Increase in Revenue
B) Increase in Cash and Increase in Liabilities
C) Increase in Cash and Decrease in Liabilities
D) Increase in Cash and Increase in Equity

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